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Technical Analysis: Can Caterpillar Hold Its Gains?
David Russell
August 16, 2023

Caterpillar has been leading a rally in industrial stocks, but now some traders may expect a pullback.

Notice the gap to new record levels on August 1 after earnings beat estimates. CAT pushed to another high the following session but …

For more, please click here to view the related idea and chart analysis on TradingView.

Caterpillar (CAT), daily chart, with selected patterns and indicators, courtesy of TradingView.
Tags: CAT

About the author

David Russell is Global Head of Market Strategy at TradeStation. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.